September's better-than-expected jobs data report has increased the odds of further rate hikes. Ron Hetrick, a senior economist at labor force data provider Lightcast, said, "Everybody who seems to want a job is getting a job."
As a result, the Fed is expected to announce another significant rate hike in November. Moreover, David Donabedian, CIO at CIBC Private Wealth, said, "We expect the pressure on the Fed to remain high, with continued monetary tightening well into 2023."
